Riverbank Hotel regularly suffered loss of business when local flooding caused a bridge to flood near the hotel. Although the bridge is on a public road, Riverbank Hotel obtained permission from the Local Government Authority to construct a new bridge, which would reduce the incidence of flooding. The new bridge was completed at a cost of $100,000 to the Riverbank Hotel.

Is the bridge an asset of the Riverbank Hotel in accordance with theConceptual Framework? Giver reasons for your answer.